The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-05-01

rather than the one swaying power Nolney T.
Ma.ott talks this way. His only fear lies in the
the strength of gas, before it becomes fixed
element in manufacturing aud household econ
omy. He thinks he already detects the presence
of this danger. when property is bought
a counter-infuence in the steady purchase
of business and residence property In the city.
This Is attracting the attention of outside capital
as much as vacant lots and land on the outskirts
where the speculative fever rests.
VIM. II. English had similar views, but he be-
lieves the present prosperity is to continue. not
withstaEding there may appear considerable
imitation in values. lit is not" said he, s'as il
was in 3D. when men back of men OF straw
trolled the market Now we are
dealing with substance. There has
been material lessening of Indebtedness
incurred by the former speculative period. 1t
has been almost wiped out Insurance compa
MES that We're required to foreelose on lots are
now working them off at about what the property
cost them. This of itself causes considerable
activity in the market. The calling in of gov
eminent bonds. think, has had great deal to
do with purchases of real estate. The money
thus freed from government securities
looked for other investment Real es-
tate. at its low prices and promise
of substantial increase in values attracted this
money. There other causes equally as pow
erful which prepared the way for prosperity. In
the midst of it came the natural gas discoveries.
which have tendency to initiate prices beyond
what property can legitimately bear. 1t is the
custom of the American people to jump from
one extreme to another. We have had long
period of depression. when prices were very low.
and now we are ready to make the most, and
Perhaps too much, out of the elements of pros
perity."
Theodore P. Hauehey thinks that property
in the central part of the city is not going be-
yond what it is really worth. Speculation will
go to the outside lands and encroach upon fair
values for manufacturing purposes. This should
be guarded against. He believes a season of
marked prosperity and substantial growth is to
advance Indianapolis. He says there is good
demand for money and that it is not for real
estate speculation.
John P. Frenzel is also conservative in his
views and regards the prosperity as the natural
outerowth of influences that for the best
1t would have occurred without gas, but that
has had great deal to do with it, particularly
since the standard Oil Company has made
known Its purpose to bring gas to the city IA
large corporation like that said he. with it's
millions to invest, leads other capitalists.
Hence, the intention of the company TO make
large investment here has attracted the attention
of those who study these movements. Home
capital might do great deal in strengthening
the market prices, but its influence on foreign
money would noe be great The latter waits
for corporations like the Standard Oil to take
the lead"
At the Board of Trade the expressions are in
accord with the conservatiNe feeling. Everyone
feels that the city is beginning a prosperous era
that can only be endangered by too much spec
ulatlon, which will advance prices beyond rea-
sonable figures for manufacturing investments
IF mon are buying outside property on a specu
lative basis" said the secretary of the
board, John G. Blake, lit would be bet
ter to keep such figures from
manufacturing sites. A mandatory once
erected would draw around it population that
will need homes Land not required for factories
could be subdivided aud sold at a legitimate
profit Indianapolis is in the midst of solid
growth. and what we have avoid is the danger
of killing the goose that lays the golden egg
This city ought to be the largest inland manu-
fac turing city in the country. She is in fair
way of becoming so. for everything seems to be
coming in her direction"